Bitcoin might grab the majority of headlines, but it’s far from the only crypto opportunity. In fact, a more wide-ranging list could include dozens of altcoins. But to try to keep things simple, we are just going to go over the four best altcoins that have gotten our attention.

Illustration of some of the best altcoins falling from the sky

Since you landed on this article, you probably already know what an altcoin is. But just in case, an altcoin is any cryptocurrency that isn’t Bitcoin. And just so you know, that describes more than 18,000 cryptocurrencies. So there really are a lot to choose from. However, a whole lot of them are junk. Lots of them have little to no trading volume. And even more of them will fail to make any sort of impact before fading into oblivion (taking investors’ money into the void with them).

Based on this, it’s imperative to dig into a crypto that’s captured your attention before investing in it. That being said, this also depends on what kind of investor you are…

Last year, crypto was on fire. It was minting millionaires left and right. Even meme coins like Dogecoin and its meme-of-a-meme spinoff, Shiba Inu coin, have turned a few hundred bucks into tens of thousands – if not millions – of dollars. But this was blind speculation that just happened to pay off. That’s not investing so much as gambling. And if that’s your strategy, might I direct you to Telcoin? Or perhaps Dromos?

But if you’re looking for the best altcoins to invest in, here are our five favorites.

The Five Best Altcoins for 2022

Ethereum

We’re starting our list with the second-biggest cryptocurrency out there. This is one of the best altcoins available for two major reasons. The first is that it has the second-largest market cap of any crypto on the market. This shows that it has market power in the crypto world. And it also means that popularity and adoption are already widespread. The second reason this is one of the best altcoins is that it powers a dominant percentage of the NFT marketplace. And that dominance has helped it outperform most of its largest competitors.

So far this year, Ethereum is down up around 55%. However, remember that Ethereum has bounced back from several flash crashes in the past in a major way. There’s a good argument to be made that Ethereum is trading at a discount right now. And all of this makes Ethereum one of the best altcoins – if not the best – available right now.

Litecoin

This is one of the oldest altcoins on the market. But don’t let its age fool you. It was founded by a former Google and Coinbase engineer who knows the power of utility. And this is what this crypto was based on. This coin was established as a Bitcoin fork. But it’s not trying to compete with it. Rather, it’s been described as “silver to Bitcoin’s gold.”

Another thing that separates Litecoin from its larger competitors is its ease to mine. There’s no need for specialized equipment to get in on the mining action. Consumer-grade hardware is enough for most folks to get in on the action.

But perhaps its strongest asset is transaction speed. Transaction times are nearly instant. What’s more, its fees are among the lowest in the cryptosphere. This all adds up to the ability to send Litecoin around the world in mere minutes. And because it’s been around so long, you can find it in just about any exchange you choose. It’s available in consumer-friendly apps like Robinhood and Webull. You can easily find it in one of our favorite exchanges, Coinbase. And more recently, PayPal’s (Nasdaq: PYPL) crypto checkout began allowing Litecoin to be one of the cryptos it accepts. After all these years, Litecoin is still growing in popularity and use. And that clearly makes it one of the best altcoins out there.

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The Bottom Line on the Best Altcoins Your Money Can Buy

Altcoins have proven to be an amazing way to invest your money recently. Naturally, there have been some hiccups along the way. The roller-coaster rides that cryptos offer is part of their charm to some. But that’s also part of the reason some investors remain skeptical. So, to paraphrase the old adage, never invest more than you can afford to lose. However, if you stick with it long enough, riding out the volatility will become second nature.

Even the best altcoins will continue to see ebbs and flows in value. But over time, the highs are proving to get higher. And the lows are nowhere near as low as they have been in the past.